1. Operating budgets and financial budgets have nothing to do with the master budget. are prepared after the master budget. combined, form the master budget. are prepared before the master budget. 2. To gain the benefits of budgeting, ________ must understand and support the budget. customers management at all levels suppliers All of the above 3. Which budget is not necessary to prepare the budgeted balance sheet? Revenues budget Budgeted income statement Cash budget Budgeted statement of cash flows